USDJPY Technical analysis 27.06.17

USDJPY

The pair is traded above 111.75 level. It will have a positive effect on the United States dollar if Janet Yellen’s upcoming speech confirms the Fed’s intention to continue raising interest rates, and normalize its monetary policy.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above 50% level and is going down. Stoch have reversed downwards, leaving the oversold zone.

Trading recommendations:

If the pair manages to keep above 111.75 level, it is likely to keep rising further up to 113.00 against the backdrop of Janet Yellen’s speech.